Why Big Brands Won't Go Back After Discovering the Potential of Crypto Payments: Insights from a Fireblocks VP

As an Ethereum expert, I can confidently say that the adoption of cryptocurrencies in the payments industry is not a trend that will fade away anytime soon. Ran Goldi's belief that big names won't go back after discovering the potential of crypto payments resonates with my experience in the industry. Here's why:

Affordability

One of the biggest advantages of using cryptocurrency for payments is the affordability of transactions. Traditional payment systems, such as credit cards and bank transfers, often come with high fees that eat into profits. Cryptocurrency payments, on the other hand, are typically much cheaper, with fees ranging from a few cents to a few dollars. This cost-effectiveness is especially attractive to big brands that process a high volume of transactions.

Speed

In addition to affordability, crypto payments are also incredibly fast. Transactions are typically processed within minutes, compared to the days or even weeks it can take for traditional payments to clear. This speed is especially important for businesses that need to process payments quickly to maintain their cash flow.

Security

Another advantage of cryptocurrency payments is the security they offer. Transactions are recorded on a decentralized ledger, making them virtually impossible to hack or alter. Additionally, users have complete control over their funds, eliminating the risk of chargebacks or fraud.

Innovation

Finally, one of the most exciting aspects of cryptocurrency payments is the potential for innovation. As the technology develops, we are likely to see new and innovative ways of using cryptocurrency for payments. For example, smart contracts could be used to automatically trigger payments based on specific conditions, or decentralized exchanges could be used to facilitate instant currency swaps.

In conclusion, I believe that the adoption of cryptocurrency payments by big brands is here to stay. The affordability, speed, security, and potential for innovation offered by crypto payments make them a compelling option for businesses of all sizes. As the industry continues to mature, we are likely to see even more big names jumping on board.